A traveler anticipating a visit to a particular country may obtain a purchasing instrument, such as traveler's checks in a desired currency. Traveler's checks may insulate travelers from fluctuating foreign exchange rates. Like cash, traveler's checks may include static anti-counterfeiting properties. Such anti-counterfeiting properties may include special paper or embedded designs. However, such static anti-counterfeiting properties are at risk of being identified, copied and/or otherwise duplicated.
Traveler's checks are also typically limited to a currency and denomination printed on a face of the document. Accordingly, a traveler's spending is limited by the amount and currency on his or her traveler's checks.
A traveler may also utilize credit cards or other purchasing instruments in lieu of traveler's checks. However, use of such a purchasing instrument is also associated with risks.
Typically, sensitive data associated with a credit card, or other purchasing instrument, is printed on a face (front or back) of the card. The sensitive data may include a unique card number, a card holder's name, an expiration date of the credit card number, an amount, a currency, a card verification value (“CVV”) or any other suitable sensitive data.
The sensitive data may be visible to an onlooker who may obtain a copy (e.g., by taking a picture) of the sensitive data. The copied sensitive data may be used to initiate fraudulent transactions.
Typically, credit cards also include sensitive data encoded on a magnetic stripe. The sensitive data encoded on the magnetic stripe is read when the card is “swiped” through a card reader. Thieves may utilize a skimming device to obtain a copy of the sensitive data encoded on the magnetic stripe. For example, a thief may utilize a skimming device placed on or in an automated teller machine (“ATM”). The skimmer may be placed over a card slot reader of the ATM and may read the magnetic stripe as the card is inserted into the slot.
A traveler may not notice that a skimmer has been placed on or in an ATM because the skimmer may not impede access to the ATM or card reader. Thus, the skimmer may obtain a copy of the sensitive data encoded on a credit card's magnetic stripe in a manner transparent to the traveler.
Technology is currently being developed that may reduce a risk of a thief obtaining a copy of sensitive credit card data. For example, some credit cards are now produced with “EMV” chips. EMV is a technology that derives its name from the companies (Europay, MasterCard, and Visa) that helped develop the technology. When the credit card and its associated EMV chip are inserted into a specialized card reader, the reader powers the EMV chip and the EMV chip generates a new authorization code each time the credit card is used. Thus, simply copying the sensitive data printed on the face of the credit card or encoded on the magnetic stripe may be insufficient to initiate a fraudulent transaction.
In addition to technology specifically developed to combat fraud, it would be desirable to leverage other technology to design a purchasing instrument that is more protective of sensitive data associated with the purchasing instrument.
However, the relevant form factor associated with purchasing instruments is limited. Purchasing instruments are typically 85.60 millimeters (“mm”)×53.98 mm×0.8 mm. This limited form factor allows purchasing instruments to fit into a traveler's wallet or pocket. Yet, this form factor also presents design challenges. For example, one design challenge involves the difficulty of attempting to include electronic features within the limited form factor. For example, to maintain this limited form factor, a purchasing instrument cannot be constructed using a relatively large power supply.
Furthermore, travelers typically expect to be able to fold or bend purchasing instruments. For example, a traveler may expect to fold a traveler's check and store the check in a wallet or pocket.
In would be desirable to provide a purchasing instrument that more securely protect sensitive data.
In would be desirable to provide a purchasing instrument that incorporates electronic features that allow for efficient use and functionality of such purchasing instruments.
It would be desirable to provide a purchasing instrument that includes electronic features and allows travelers to fold or bend the purchasing instrument.
Accordingly, it would be desirable to provide systems and methods for an OLED-Based Travel Card.